09.21.2004 EDC Minutes184
MINUTES OF
KENNEDALE ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS
REGULAR MEETING — SEPTEMBER 21, 2004
405 MUNICIPAL DR. — KENNEDALE MUNICIPAL BLDG.
CONFERENCE ROOM
President Vaughn called the meeting to order at 7:01 p.m.
Members present: President Vaughn, Vice - President Mundy, Berry, Munn, and Morris. Hayes
arrived at 7:02 p.m.
Members absent: Farmer.
Staff present: David Miller, Executive Director; and Kathy Turner, Secretary.
A. REGULAR ITEMS
1. Consider selection of President and Vice - President to serve a one -year term.
Ballots were presented to each Board Member to allow him/her to cast their votes for a
President and Vice - President to serve a one -year term.
Nita Vaughn was re- elected as President, and Bill Munn was elected Vice - President.
2. Approval of minutes: regular meeting dated July 20, 2004.
Bill Munn moved to approve the minutes as submitted, second by Robert Mundy.
Motion carried with Munn, Mundy, Vaughn, Hayes, and Morris voting aye, with Berry
abstaining due to absence of meeting.
3. Review of financial reports.
After a brief review, Robert Mundy questioned sales tax difference on the Revenue and
Expenditure Report from the Sales Tax History report. It was noted that the question
would be sent to Li Jen Lee, Director of Finance and a reply would be sent to all board
members.
4. Consider application for Commercial Revitalization grant requested by Ray Bulls.
Discussion took place with Mr. Bulls regarding ownership of the eight buildings. It was
determined that there were three owners to the buildings, and that each owner must apply
to receive the grant.
Robert Mundy moved to approve Visual Grant contingent upon other two property
owners submitting grant applications with a one to 14 ratio (1/15 of $78,000.00 = $5,200)
with maximum pay out of Five Thousand Two Hundred Dollars ($5,200.00). Motion
second by Bill Munn.
Robert Mundy moved to amend his motion to include allocation of money based on the
square footage of each building. Amended motion was second by Bill Munn with
185
Mundy, Munn, Morris, and Vaughn voting aye. Berry and Hayes were opposed. Motion
carried.
B. PRESIDENT/BOARD ANNOUNCEMENTS/REPORTS
1. President Announcements/Reports
President Vaughn asked Board members to ponder the highway expansion project and
requested input on how to get the word out that the Economic Development Corporation
is present to assist with grants on visual /functional improvements.
Discussion continued with grant process, and it was suggested that the board be
consistent in the process, as well as, having the business applicants reflect what the
economic impact is going to be to the community before a grant is approved.
2. Board of Directors Announcements/Reports
Board members requested more factual infoitiiation be provided with the grants, which
would make the decision making process easier and allow for more consistency in the
cases.
C. ADJOURNMENT
No further business before the Board, President Vaughn adjourned the meeting at 8:18 p.m.
AP
OVED:
Pre 'dent, Nita D. Vaughn
ATTEST:
Kathy Turn6r, Secretary to EDC